Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe. Suppose that Schell has conducted further research into its overhead and potential cost drivers. As a result, the company has compiled the following detailed information, breaking total overhead into three activity pools: Activity Pools Material handling Quality control Machine maintenance Cost Driver Number of noves Number of inspections Number of machine hours Cost Assigned Quantity or Amount Consumed to Pool by Standard Floor Mat Line $ 2,522.00 $ 8,375.00 $ 12,325.00 44 moves 530 inspections 3,000 machine hours Required: 1. Calculate the activity rates for each activity pool assuming Schell uses an ABC system. 2. Calculate the amount of overhead that Schell will assign to the Standard floor mat line. 3. Determine the amount of overhead Schell will assign to the Deluxe product line. Complete this question by entering your answers in the tabs below. Quantity or Amount Consumed by Deluxe Floor Mat Line 53 moves 720 inspections 4,250 machine hours

Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe. Suppose that Schell has conducted further research into its overhead and potential cost drivers. As a result, the company has compiled the following detailed information, breaking total overhead into three activity pools: Activity Pools Material handling Quality control Machine maintenance Cost Driver Number of noves Number of inspections Number of machine hours Cost Assigned Quantity or Amount Consumed to Pool by Standard Floor Mat Line $ 2,522.00 $ 8,375.00 $ 12,325.00 44 moves 530 inspections 3,000 machine hours Required: 1. Calculate the activity rates for each activity pool assuming Schell uses an ABC system. 2. Calculate the amount of overhead that Schell will assign to the Standard floor mat line. 3. Determine the amount of overhead Schell will assign to the Deluxe product line. Complete this question by entering your answers in the tabs below. Quantity or Amount Consumed by Deluxe Floor Mat Line 53 moves 720 inspections 4,250 machine hours

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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